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A Real Example of a Market Analysis - The antithesis of Zillow
This blog is written for the general public. This should bore most realtors. The purpose of this blog is to help inform buyers how a legitimate market analysis is really done. First of all the purpose of a market analysis is to find the price at which the home will sell in today's market. I emphasis today, not yesterday, not three months ago, not 6 months ago and certainly not a year ago.So here is how I determine the real market value of a home. By the way this is a real example of a home I listed on Marquis Avenue a couple of weeks ago. First, I drive around the neighborhood and survey the general condition of other homes. This is quite important even when I know the neighborhood well. What if the neighbors next door suddenly start a large remodeling project and there are piles of building materials, foreman's trailers and workers cars parked up and down the street? If you are going to try to sell your home with all that activity and mess you better not expect to have a lot of viewings. In Lexington the average home needs to be shown twelve times before it sells. ... more
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